The screaming warning. Was the rns 26 oct 2016. Which i commented in at the time. The finance DIRECTOR. Resigned. And was was replaced by a Head of finance. NOT a finance director. There are legal implications of being a director. If one accountant chooses to resign their directorship. And the new one looks at the books and declines to be a director (i assume they were offered). Ive avoided a similar situation myself as i didnt want the risk of being struck off. Doesnt mean it will drop. Just means its higher risk. Imho
Utah. A little murky. Ive always been bearish on pyc as i dont like biotech services companies. Also harper and ABH. Although theybdid work for sar and icr. They havent been used by either since. And a lot of companies and research institutes seem to have beefy in house teams now. However. One of the rns referred to "an initial" payment from sareum. Which is highly suggestive there may be a subsequent one. But guesswork. If there is it may be on commer ialisation which could be years away. I dont know where the sp will go. But as a uni spin out it has a half life if its not cutting edge research or getting massive data sets from being inside a big pharma. But i just dont like services companies. Especially ones dependent on a few large contracts. Sar only just avoided going tits up a decade ago when it was a services co and had to do a firesale of assets to galapagos just to stay solvent. I dont even see assets here. It needs a big contract in the next 3 months to show profitability i feel. Which could happen. I suspect the ability to fundraise via placing is limited. Imho
Pyc really should not be listed on aim . They should be in a research dept of a university or hospital! They have no real objective of maximising shareholder return which is fundamental rule for a listed company. To me this does not bode well because eventually they will not get any more funding and this is probably by end of year. I have 10k in this share could have lowered my average but did not want to. Interesting your on this bb. Considering your knowledge of sar do you know if pyc has future revenue stream from sar? From your thoughts on pyc I would say not because you are very bearish on pyc
>gross revenue: a paltry and utterly disgraceful £173,867.
>Operating loss £263,509.
>Exceptional costs of £41,362 relate to termination of the Biomoti acquisition by the BOD i.e. it has now become evident that, whilst shareholders were not afforded any democratic input or electoral entitlement in respect of a vote regarding the Biomoti acquisition, they were, none-the-less, 'on the hook' and have been required to meet all of the associated costs (yet again) in respect of this BOD's bewildering , plutonium grade bumbling ineptitude and incompetence which, simply beggars belief.
In conclusion, it is clearly evident that the BOD of this company has and continues to squander any potential which may exist and in so doing, are totally lacking in commercial inspiration, along with the ability to deliver any meaningful return on behalf of the company's loyal and long-suffering shareholders.
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